27(1)This paragraph applies in relation to a licensing scheme which by virtue of paragraph 24(1) above includes provision for a portion of the net proceeds of the scheme (the “redistributed portion”) to be paid by the licensing authority to another body.
(2)The Authority shall prepare and submit to the Secretary of State a statement of the Authority’s general plan for the application (whether by the Authority or any other body) of the redistributed portion during the opening ten year period.
(3)In sub-paragraph (2) above, “the opening ten year period”, in relation to any licensing scheme, means the period which—
(a)begins with the date on which the scheme comes into force; and
(b)ends with the tenth financial year that commences on or after that date.
(4)An order containing a licensing scheme shall not come into force unless and until any statement required by sub-paragraph (2) above in the case of that scheme has been approved by the Secretary of State.